Investor Brief: Regulatory Clearance & Operational Update

1. Key Regulatory Milestone: Greenfield Expansion De-risked NGT Relief: The National Green Tribunal (Western Zone Bench, Pune) has dismissed all three appeals contesting the Environmental and Forest Clearances granted by MoEF&CC and the State of Gujarat. Project Scope: Greenfield soda ash manufacturing facility located at Village Bada, Taluka Mandvi, Kutch, Gujarat. Statutory Compliance: Regulatory disclosures confirmed zero violations or contraventions against GHCL, removing key legal overhangs and securing the regulatory path for capacity expansion. 2. Financial Highlights: Margin Resilience & Cost Optimization Net Profit Growth: Q1 net profit increased 32.0% YoY to ₹191.18 crore (vs. ₹144.78 crore in Q1 FY26). Revenue Performance: Total income stood at ₹798.01 crore (down 3.06% YoY from ₹823.19 crore), reflecting global pricing adjustments. Expense Management: Total expenses fell 5.4% YoY to ₹594.10 crore, driven by operational discipline, improved realizations, and lower raw material/input costs. 3. Strategic Outlook & Growth Catalysts Asset Base: Current soda ash manufacturing footprint at Sutrapada, Gujarat, maintains an installed capacity of 1.2 MTPA (second-largest domestic producer). Near-Term Commissioning: Adjacent Bromine and Vacuum Salt projects are in advanced stages of commissioning, scheduled for commercial rollout in Q2. Demand Fundamentals: Despite near-term global supply surplus and geopolitical freight volatility, long-term industry drivers remain solid across traditional sectors (detergents, container glass) and transition verticals (solar panel glass and lithium processing).